Plenitude to rationalise group structure

KUALA LUMPUR: Plenitude Bhd will acquire Plenitude International Sdn Bhd to rationalise its group structure.

Under the group’s internal restructuring proposed to Bursa Malaysia on Nov 11, the developer will acquire the entire equity interest in Plenitude International, comprising two shares of RM1 each, for RM2 and assumption of debts of about RM5,000.

The restructuring exercise is expected to enhance the group’s operational efficiency and management control in undertaking any new project investment or development projects.

Plenitude International is principally involved in property development and investment, but has yet to commence business operations since its incorporation in April 2005.